Southeast region decreased from 500 - 1,000 VND/kg compared to last week

Pepper price today, November 11, 2024, in the Southeast region is stable in most key areas, trading around 139,500 - 141,200 VND/kg; the highest purchase price is in Dak Nong province.

Accordingly, Dak Lak pepper price is purchased at 141,000 VND/kg. Chu Se pepper price (Gia Lai) is purchased at 140,000 VND/kg. Dak Nong pepper price today is recorded at 141,200 VND/kg.

Pepper price today November 11, 2024: Southeast region decreased by 500 - 1,000 VND/kg compared to last week

In the Southeast region, pepper prices today have not fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 139,500 VND/kg. In Ba Ria - Vung Tau, it is currently at 140,000 VND/kg.

Thus, domestic pepper prices today are stable in key growing areas. The highest pepper price is at 141,200 VND/kg.

After a sharp drop of VND5,000/kg at the beginning of the week, pepper prices have recovered for three sessions. Currently, the price is equal to the market price before the announcement of the US election results. This means that pepper prices will remain stable this week.

Overall, pepper prices in the Southeast region continued to decrease by about VND500-1,000/kg last week. Meanwhile, in the Central Highlands region, pepper prices in Dak Nong province increased slightly by VND200/kg to VND141,200/kg last week. Meanwhile, in Dak Lak and Gia Lai provinces, transaction prices remained unchanged compared to the beginning of the week.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,706 USD/ton, and the price of Muntok white pepper at 9,180 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,300 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.

In particular, the price of Vietnamese black pepper is stable at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; and white pepper price at 9,500 USD/ton.

According to the Import-Export Department (Ministry of Industry and Trade), pepper prices on the world market in the third quarter remained high, especially in August and September, due to limited supply and strong import demand.

By October, pepper prices fell due to liquidity needs, causing many people to sell off their goods. In addition, increased global pepper supply from Brazil and Indonesia, while demand from China was low, affected global pepper prices.

Despite a sharp decrease compared to late September, pepper prices in October remain high. The Import-Export Department forecasts that world pepper prices will decrease slightly in the short term, but will not last long due to limited supply and increased import demand during the season.

In major markets such as the US, EU and Asia, consumer demand is increasing, but in the Middle East and China it is still quite slow.

The sharp drop in inventories has caused farmers and dealers to limit sales. Currently, Brazil is the world's second largest producer and exporter of black pepper, accounting for about 17-18% of global supply. However, Brazil's pepper exports in 2024 will continue to decline due to low production, marking the third consecutive year of decline.

In addition, Vietnam's 2025 pepper crop is expected to be harvested one month later, which could positively support pepper prices in the world market.

The Import-Export Department (Ministry of Industry and Trade) forecasts that in the last months of this year, Vietnam's pepper export activities will not be favorable because domestic supply is limited and demand from China remains low.

It is expected that by early 2025, our country's pepper exports will be favorable thanks to the expected sharp increase in demand from the Chinese market.

Domestic pepper price on November 11, 2024